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Futures Pressured On Friday, Lowest Since Mid-July

IRON ORE

SGX Iron Ore futures were pressured on Friday falling ~3% and printing the lowest level since 12 July.

  • The lack of big-bang stimulus from China, as policy details continue to be released gradually and support measures also taking time to filter through to steel demand have weighed on the contract through last week's dealing.
  • Futures fell ~4.5% through the week, the worst performance for Iron Ore since late May. In early trade this week the September contract sits little changed from Friday's closing levels at $106.80/tonne.

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